The Globe and Mail reports in its Thursday, Nov. 27, edition that the Alberta government slashed its oil price forecast for the fiscal year by 8 per cent as crude prices tumble around the world, and indicated that it may be forced to cut spending to keep its budget in the black. The Globe's Carrie Tait writes that the provincial Progressive Conservative party now expects a barrel of oil to trade for an average of $75 (U.S.) for the rest of the fiscal year ending next March. The suddenly weakened oil market presents a major challenge for Alberta's new Premier, Jim Prentice, who vowed to keep Alberta out of deficit and start shifting the province away from its long-held reliance on healthy oil prices in order to keep government revenue flowing. Mr. Prentice said Wednesday: "We will keep the budget balanced this year through discipline and careful financial management. ... With lower oil prices forecast for the second half of the year, we will make the fiscally responsible decisions to keep government operating in the black while addressing infrastructure needs as Alberta continues to grow." Laying out another priority, Mr. Prentice said, "We have to get off the oil train."